Blockchain-powered Synereo Set to Challenge Facebook and Twitter
- The decentralized, open-source social network will compensate users with its own cryptocurrency for viewing promoted content.
Synereo, a Tel-Aviv based Startup Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term developing a decentralized, open-source social network, has revealed today that its product will move into alpha this September. Synereo’s alpha is built as a smart contracts app on top of the company’s distributed tech stack, which utilizes Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology to enable a peer-to-peer internet.
The blockchain-based social network disrupts the current model of social media by giving control back to the users over content, personal information and monetization. Furthermore, contrary to the established social platforms like Facebook and Twitter, Synereo’s social network cannot record or store personal information of any kind, and does not sell it to third parties, or target users with ads. Instead, all network transactions and relations are encrypted on a distributed ledger and accessible to permitted parties only.
The Synereo network operates entirely without central servers or data centers. Instead, the network compensates users for contributions of storage and computation power when they support the distributed network with their personal devices. Additionally, the startup means for the social network itself to adhere to the principles of the attention economy, providing users with monetary rewards for creating and curating content that people like.
Synereo alpha will include the ability to post simple text and images, #hashtags and a decentralized search. Additionally, users will be able to promote content by charging their posts with the test network’s native cryptocurrency (called test AMPs). Accordingly, users will be compensated with said AMPs when viewing promoted content.
Synereo, a Tel-Aviv based Startup Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term developing a decentralized, open-source social network, has revealed today that its product will move into alpha this September. Synereo’s alpha is built as a smart contracts app on top of the company’s distributed tech stack, which utilizes Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology to enable a peer-to-peer internet.
The blockchain-based social network disrupts the current model of social media by giving control back to the users over content, personal information and monetization. Furthermore, contrary to the established social platforms like Facebook and Twitter, Synereo’s social network cannot record or store personal information of any kind, and does not sell it to third parties, or target users with ads. Instead, all network transactions and relations are encrypted on a distributed ledger and accessible to permitted parties only.
The Synereo network operates entirely without central servers or data centers. Instead, the network compensates users for contributions of storage and computation power when they support the distributed network with their personal devices. Additionally, the startup means for the social network itself to adhere to the principles of the attention economy, providing users with monetary rewards for creating and curating content that people like.
Synereo alpha will include the ability to post simple text and images, #hashtags and a decentralized search. Additionally, users will be able to promote content by charging their posts with the test network’s native cryptocurrency (called test AMPs). Accordingly, users will be compensated with said AMPs when viewing promoted content.